Mineralization open in all directions
Earlier this year, Canadian explorer Golden Cariboo Resources (CSE GCC) identified and extended gold mineralization on the Main Zone of its Quesnelle Gold Quartz Mine property that is visually similar to the mineralization found at Barkerville Gold Mine’s Cariboo Gold Project nearby. Barkverville Gold Mines, the original discovery was made by the team currently leading Golden Cariboo, was ultimately acquired by Osisko Royalties for more than $300 million CAD. With new drilling already underway at Quesnelle Gold Quartz Mine, Golden Cariboo Resources is now providing final partial results on an earlier drill hole, which are quite something!
For surface drill hole QGQ23-04 (previously named QGQ23-01), Golden Cariboo had already reported several gold mineralization intercepts in the upper part of the drill hole below the historic Koch vein in January. A broad zone of replacement mineralization was encountered there, returning a strong 4.65 g/t gold over 7.15 metres and 1.12 g/t gold over 18.7 metres. In total, the interval, even including a 15.15 meter interval of 0.08 g/t gold, contains 1.35 g/t gold over 41.0 meters! This is a significant increase up-dip and to the south of the older hole QGQ22-02, which already returned a good 0.69 g/t gold over 22.3 meters.
Further strong gold mineralization now proven
However, when drill hole QGQ23-01/QGQ23-04 was reported at the time, Golden Cariboo had only split about half of the drill core into samples. Another 129.85 meters of drill core were later prepared and sent to the laboratory. Golden Cariboo is now presenting these results and can once again show high gold grades in this drill hole, including 2.77 g/t gold over 6.25 meters and 2.96 g/t gold over 0.65 meters!
Mineralization is observed in quartz-carbonate-pyrite veins as well as in metamorphosed, fine clastic sedimentary rocks located near the greenstone contact and a lamprophyre ditch. And, importantly, the mineralization is open in all directions.
Overall, according to the company, drilling indicates that there are numerous ore bodies of historically overlooked replacement mineralization in this area that lie outside of historic mine areas. In addition, according to Golden Cariboo, the high-grade, gold-bearing veins targeted by historic work are present throughout the project area.
Map of ongoing and planned drill holes; Source Golden Cariboo Resources
In the meantime, the Company is continuing the new drill program that commenced mid-month. This is targeting lateral and vertical extensions of the replacement mineralization adjacent to the greenstone-phyllite contact towards the Halzone (see map). There, Golden Cariboo had outlined similar mineralization in 2022 with trenching, approximately 800 meters northwest around strike of the current drilling in the Main Zone. A 3D geologic model based on the historical and new exploration data is currently being created to support the ongoing work.
Conclusion: The excitement increases with every day that Golden Cariboo’s new drilling program progresses. Can the team around CEO J. Frank Callaghan repeat the Barkerville Gold success with its new company? In our opinion, the data presented today bodes well. We will stay on this exciting gold story.
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